MOTOR OIL HELLAS CORINTH REFINERIES S.A. INTERIM
CONDENSED
FINANCIAL
STATEMENTS
IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS THAT HAVE BEEN ADOPTED BY THE EUROPEAN UNION
FOR THE PERIOD 1 JANUARY - 31 MARCH 2021
FOR THE GROUP AND THE COMPANY
"MOTOR OIL (HELLAS) CORINTH REFINERIES S.A."
MOTOR OIL (HELLAS) CORINTH REFINERIES SA
G.E.MI. 272801000
(Ex Prefecture of Attica Registration Nr 1482/06/Β/86/26) Headquarters: Irodou Attikou 12Α, 151 24 Maroussi Attica
Interim Condensed Financial Statements for the period 1/1-31/3/2021
C O N T E N T S
Condensed Statement of Profit or Loss and other Comprehensive Income for the period ended 31st March
Condensed Statement of Financial Position as at 31st March 2021...................................................................... | 6 |
Condensed Statement of Changes in Equity for the period ended 31st March 2021 ........................................ | 7 |
Condensed Statement of Cash Flows for the period ended 31st March 2021..................................................... | 8 |
Notes to the Financial Statements............................................................................................................................ | 9 |
1. General Information ........................................................................................................................................... | 9 |
2. Basis of Financial Statements Preparation & Adoption of New and Revised International Financial
Reporting Standards (IFRSs)....................................................................................................................................... | 9 | |
3. | Operating Segments ........................................................................................................................................ | 11 |
4. | Revenue............................................................................................................................................................. | 15 |
5. | Finance Income ............................................................................................................................................... | 16 |
6. | Inventories ......................................................................................................................................................... | 16 |
7. | Finance Costs.................................................................................................................................................... | 17 |
8. | Income Tax Expenses ...................................................................................................................................... | 17 |
9. | Earnings/(Losses) per Share ............................................................................................................................ | 18 |
10. | Dividends .......................................................................................................................................................... | 18 |
11. | Goodwill ........................................................................................................................................................... | 19 |
12. | Other Intangible Assets ................................................................................................................................... | 20 |
13. | Property, Plant and Equipment...................................................................................................................... | 21 |
14. | Investments in Subsidiaries and Associates ................................................................................................ | 23 |
15. | Other Financial Assets .................................................................................................................................... | 28 |
16. | Borrowings ....................................................................................................................................................... | 28 |
17. | Fair Value of Financial Instruments ............................................................................................................... | 33 |
18. | Leases............................................................................................................................................................... | 35 |
19. | Share Capital................................................................................................................................................... | 36 |
20. | Reserves ........................................................................................................................................................... | 37 |
21. | Retained Earnings ........................................................................................................................................... | 38 |
22. | Establishment/Acquisition of Subsidiaries/Associates ............................................................................... | 39 |
23. | Contingent Liabilities/Commitments ............................................................................................................ | 39 |
24. | Related Party Transactions............................................................................................................................. | 41 |
25. | Management of Financial Risks .................................................................................................................... | 42 |
26. | Events after the Reporting Period .................................................................................................................. | 46 |
The financial statements of the Group and the Company, set out on pages 1 to 46, were approved at the Board of Directors' Meeting dated June 14th, 2021.
Page 2 of 46
Interim Condensed Financial Statements for the period 1/1-31/3/2021
THE CHAIRMAN OF THE BOARD | THE DEPUTY MANAGING | |
DIRECTOR AND CHIEF | THE CHIEF ACCOUNTANT | |
OF DIRECTORS | ||
FINANCIAL OFFICER | ||
VARDIS J. VARDINOYANNIS | PETROS T. TZANNETAKIS | THEODOROS N. PORFIRIS |
Page 3 of 46
Interim Condensed Financial Statements for the period 1/1-31/03/2021
Condensed Statement of Profit or Loss and other Comprehensive Income for the period ended 31st March 2021
GROUP | COMPANY | |||||||||
In 000's Euros (except for "earnings per share") | Note | 1/1-31/03/21 | 1/1-31/03/20 | 1/1-31/03/21 | 1/1-31/03/20 | |||||
Continued operations | *unreviewed | *unreviewed | ||||||||
Operating results | ||||||||||
Revenue | 4 | 1,886,750 | 1,648,758 | 1,295,704 | 1,059,318 | |||||
Cost of Sales | (1,723,064) | (1,683,960) | (1,203,939) | (1,135,718) | ||||||
Gross Profit/(loss) | 163,687 | (35,202) | 91,766 | (76,400) | ||||||
Distribution expenses | (53,833) | (56,469) | (4,796) | (4,877) | ||||||
Administrative expenses | (24,857) | (18,878) | (10,912) | (9,553) | ||||||
Other income | 2,088 | 2,541 | 364 | 305 | ||||||
Other Gain/(loss) | 6,610 | (3,781) | 7,249 | (2,909) | ||||||
Profit/(loss) from operations | 93,695 | (111,789) | 83,671 | (93,434) | ||||||
Finance income | 5 | 13,272 | 4,574 | 11,987 | 1,025 | |||||
Finance costs | 7 | (18,295) | (13,990) | (10,714) | (7,987) | |||||
Share of profit/(loss) in associates | 273 | (4,661) | 0 | 0 | ||||||
Profit/(loss) before tax | 88,947 | (125,866) | 84,944 | (100,396) | ||||||
Income taxes | 8 | (24,088) | 29,368 | (20,451) | 24,850 | |||||
Profit/(loss) after tax from continued | ||||||||||
operations | 64,858 | (96,498) | 64,493 | (75,546) | ||||||
Discontinued operations | ||||||||||
Profit/(loss) after tax from discontinued operations | 0 | (188) | 0 | 0 | ||||||
Profit/(loss) after tax | 64,858 | (96,686) | 64,493 | (75,546) | ||||||
Attributable to Company Shareholders | 64,799 | (96,325) | 64,493 | (75,546) | ||||||
Non-controlling interest | 59 | (361) | 0 | 0 | ||||||
Earnings/(losses) per share basic (in €) | 9 | |||||||||
From continued operations | 0.58 | (0.87) | 0.58 | (0.68) | ||||||
From continued and discontinued operations | 0.58 | (0.87) | 0.58 | (0.68) | ||||||
Earnings/(losses) per share diluted (in €) | 9 | |||||||||
From continued operations | 0.58 | (0.87) | 0.58 | (0.68) | ||||||
From continued and discontinued operations | 0.58 | (0.87) | 0.58 | (0.68) |
The notes on pages 9 - 46 are an integral part of these interim condensed Financial Statements of the Company and the Group.
Page 4 of 46
Interim Condensed Financial Statements for the period 1/1-31/03/2021
GROUP | COMPANY | |||||||||||||||
In 000's Euros (except for "earnings per share") | Note | 1/1-31/03/21 | 1/1-31/03/20 | 1/1-31/03/21 | 1/1-31/03/20 | |||||||||||
Other comprehensive income | *unreviewed | *unreviewed | ||||||||||||||
Items that will not be reclassified subsequently | ||||||||||||||||
to profit or loss: | ||||||||||||||||
Subsidiary Share Capital increase expenses | 0 | (110) | 0 | 0 | ||||||||||||
Exchange differences on translating foreign | ||||||||||||||||
operations | 657 | 131 | 0 | 0 | ||||||||||||
Share of Other Comprehensive Income of | ||||||||||||||||
associates accounted for using the equity method | (2) | 0 | 0 | 0 | ||||||||||||
Fair value Gain/(loss) arising on financial assets | (307) | 0 | 0 | 0 | ||||||||||||
Income tax on other comprehensive income | 0 | 26 | 0 | 0 | ||||||||||||
348 | 47 | 0 | 0 |
Items that may be reclassified subsequently to profit or loss:
Net Gain/(loss) arising on hedging instruments during the period on cash flow hedges
Net Other Comprehensive income
Total comprehensive income
Attributable to Company Shareholders
Non-controlling interest
158 | 0 | ||||
158 | 0 | ||||
506 | 47 | ||||
65,365 | (96,639) | ||||
65,088 | (96,313) | ||||
277 | (326) | ||||
158 | 0 | ||||
158 | 0 | ||||
158 | 0 | ||||
64,651 | (75,546) | ||||
64,651 | (75,546) | ||||
0 | 0 | ||||
The notes on pages 9 - 46 are an integral part of these interim condensed Financial Statements of the Company and the Group.
Page 5 of 46
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Motor Oil (Hellas) Corinth Refineries SA published this content on 15 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2021 14:33:06 UTC.
